Private insurance once retired.

[QuietByNature]

I am retiring soon and have looked into staying with the same insurance company that I have had at work.
The only good thing about, "Rolling Over" as they call it, staying with the same company is there is no need for any health check ups.
The one thing though is the cost to keep a decent package that will cover most of what I had with work, will eat a good chunk of my pension.

Not sure if it would be worth my while to look into another company and the hassle of going through health check ups. For myself I see no issue but for my wife (26 yrs Cancer free, but a few other health issues) and our daughter who has Downs Syndrome.

We do have OHIP, we will fall under Gov dental after a year.

Any other Ontarians have this dilemma and what did you do?

 

[MarciKS]

I'm not retired but it never hurts to look around. If it were me I would wanna see my options.

 

[Oldeagle66]

Being a vet, the only thing I had to worry about is dental coverage. That could really be expensive.

 

[robordon]

I'm a retired fed employee and kept mine, later at 65 got Medicare and now pay 0 out of pocket. Not bragging but I've heard some dropping their insurance and go Medicare only only to pick up an advantage plan later to cover the difference.

 

[OldFeller]

I thought the whole reason for Medicare was to cover people who can't afford to pay for a private insurance plan.

You have to enroll in Medicare when you're 65 or else there will be a financial penalty if you try and get into it at a later age.

 

[robordon]

If you cant afford it, but I've been paying into it since day 1, came out of my paycheck so I never missed it. I'd also heard from other fed retirees to keep my insurance and get Medicare at 65 and far as I know most do. Signing up for Medicare is a given but anything else depends on your particular situation I would say.

 

[robordon]

If you cant afford it, but I've been paying into it since day 1, came out of my paycheck so I never missed it. I'd also heard from other fed retirees to keep my insurance and get Medicare at 65 and far as I know most do. Signing up for Medicare is a given but anything else depends on your particular situation I would say.

Of course this is the U.S. mileage will vary with our northern neighbors and I'm not familiar with their retirement situations.

 

[Aunt Bea]

Good luck!